310 / 396
12. Investment in subsidiaries (cont’d.)
Acquisition of additional interest in BIG (cont’d.)
Group
RM’000
Purchase consideration for acquisition of additional interest
101,500
Fair value of previously held interest
–*
Less: Cash and cash equivalents of subsidiary acquired
(22,685)
Net cash outflow on acquisition of subsidiary
78,815
* The fair value is nil as the subsidiary is still expected to be in a loss-making position
The acquired business contributed revenue of RM18,042,000 and net loss of RM13,473,000 to the Group for the period from
29 February 2016 to 31 December 2016.
If the acquisition had occurred on 1 January 2016, The Group’s consolidated revenue and net profit for the financial year ended
31 December 2016 would have been RM6,846,085,000 and RM1,611,398,000 respectively.
Material partly-owned subsidiaries
Financial information of subsidiaries that have material non-controlling interests is provided below:
Proportion of equity interest held by non-controlling interests:
Name of entity
Country of
incorporation
Group’s effective
equity interest
2017
2016
IAA
Indonesia
48.3
–*
PAA
Philippines
40.0
–*
* In prior year, the subsidiaries were associated companies of the Company.
Group
2017
RM’000
2016
RM’000
Accumulated balances of material non-controlling interests:
IAA
(243,631)
–
PAA
(1,081,011)
–
Other individually immaterial subsidiaries
(13,391)
(5,206)
(1,338,033)
(5,206)
NOTES TO THE
FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2017
[ ]
AirAsia Berhad
REPORTS AND FINANCIAL STATEMENTS
296